John P. Downs - Mortgage Advisor

10/07/2025

🚨 DC homebuyers: What if you could slash closing costs by $10K and dodge property taxes for five years?

Let's be real. The DC Tax Abatement Program is one of the District's most effective tools for making homeownership accessible. However, many realtors and out-of-state lenders overlook it. That leaves qualified buyers overpaying or, even worse, sitting on the sidelines!

Good news for FY2026 (kicking in now): Income limits hit $89,760 for a single person, and $115,380 for a 3-person household (even higher in EDZs), with a $576K price cap. We're talking up to 2.9% of the sale price OFF at closing, plus full property tax relief for up to five years! Total savings? $31K+ on a $550K home.

We've seen this change the game for clients just like you. Not just first-timers. anyone claiming DC as home qualifies. For the full details and a few real-life stories, check out my complete DC Tax Abatement guide below.

Qualifying DC homebuyers can waive recordation taxes and get 5 years property tax-free with the DC Tax Abatement Program. Save thousands at closing. See if you qualify.

10/06/2025

Exciting news for aspiring homeowners in Washington, D.C.!

If you've been eyeing a rowhouse or condo but worried about closing costs, the DC First-Time Homebuyer Transfer Tax Reduction Program has just been updated for 2025-2026.

Income limits vary by household; however, this year, a single person can earn up to $206,640, and a two-person household can earn up to $236,160. The sale price cap increased to $777,000, providing eligible buyers with savings of up to $5,630 by reducing the recordation tax rate to 0.725%.

Be sure to read the full guide linked below to learn about the important "Loophole Alert." Don't get caught leaving money at the closing table!

Ready to make DC homeownership happen? Drop a comment if this program could work for you, or DM me for a quick chat on next steps. 🏠

Learn more about how qualified First Time Home Buyers can save thousands on closing costs in DC with the Transfer Tax Reduction Program.

08/27/2025

The classic real estate catch-22: You need to sell your home to buy a new one, but you need to buy a new one before you can move.

For years, that meant either a weak contingent offer or a painfully expensive bridge loan. Not anymore.

This week alone, we used a powerful (and little-known) strategy to:

✅ Save one client over $20,000 in bridge loan fees.
✅ Unlock the dream home for another family who felt stuck.

The cost for this peace of mind? Just $2,500.

Stop worrying about timing the market perfectly. Let's give your next offer the power of cash, without the stress.

Curious? DM me. I'm writing a full breakdown of how our Guaranteed Back-Up Offer works and will share it with you.

08/26/2025

Have you noticed more and more refinance offers showing up in your mailbox? 🤔 With mortgage rates getting better, it feels like everyone is trying to get your attention!

It's tempting to jump at the first low rate you see. But how do you know if you're truly getting a good deal or just falling for a clever sales pitch? Before you make a move that could cost you thousands, make sure you're not falling into one of the common traps.

We just published a new guide on the 5 biggest refinance mistakes we're seeing people make right here in the DC, MD, and VA area.

Click the link to get informed and save yourself time, money, and stress!

➡️ https://downsmortgagegroup.com/refinance-mistakes-dc-md-va/

Refinancing your home in the DMV? Don't lose thousands to hidden fees or bad advice. A local mortgage pro reveals the 5 biggest mistakes to avoid in 2025.

07/08/2025

Another success story! Our client, Susan, just got under contract for her first home in Edgewater, MD. The price is $517,500, and guess how much she is putting down? NOTHING! NADA! ZERO!

If you are unaware of The Maryland Mortgage Program, be sure to check out my latest post. Even better, use my MMP Calculator to see if you qualify, and how much cash you need to buy your next home!

Unlock homeownership in Maryland with little to no money down. Our ultimate 2025 guide to the Maryland Mortgage Program covers eligibility, DPA, and pro-tips.

07/02/2025

🏡 Did you know buying a home could actually BOOST your take-home pay? 💸

Most people overlook the huge tax benefits of homeownership, potentially leaving thousands of dollars unclaimed each year. Imagine getting an extra $5,000, $10,000, or even $15,000 back in your pocket—money you could use to make your mortgage more affordable or enjoy life a little more comfortably.

In this quick video, I break down the real, easy-to-understand math behind how mortgage interest deductions work and reveal how buying a home might significantly increase your disposable income each month.

✅ Stop guessing your budget. Start knowing your real numbers.

07/01/2025

Realtors and Loan Officers - Get Ready! Trump appears to be doubling down on his push to lower rates. The hit 2022 Tune, "Date the Rate, Marry the House" is not only about to make a comeback, it may actually play out this time around!

Current Fed Funds Rate expectations show a 1.25% drop between now and June 2026. With current spreads, that would put the average mortgage rate in the mid-5% range. This will be enough to trigger many move-up buyers, according to a survey I conducted in 2024.

Some believe low rates will push prices higher, but my take is that prices will remain more stable than many think, given the likely increase in move-up buyer inventory. This will be the best of all possible scenarios, as new buyers will have more choice, and stable prices are what we need to foster more homeownership.

Do you think Trump will be successful with his bid to lower rates? Or, will the inflation induced by tariffs and the big spending bill cause rates to remain stubbornly high? Let me know your thoughts!

06/26/2025

💰 Should you pay points to lower your mortgage rate?

Here's the truth: It's basically a gamble 🎲

I've been getting this question NON-STOP since rates spiked, so I broke down:
✅ What points actually cost (hint: it's more than you think)
✅ My break-even formula that beats basic calculators
✅ When paying points makes sense vs. when you're just handing banks free money

Watch to see if points make sense for YOUR situation 👇

06/19/2025

DC Inventory remains elevated, with single-family inventory at 6,549 units. While that looks alarming at 2,300 units, or 60% increase OVER the peak of 2022, we are still 40%-50% LESS inventory when compared to pre-pandemic times.

Prices pushed higher when inventory dropped to record lows and stayed there. Now that inventory is rising, I am seeing price corrections throughout the DMV. It appears to be isolated to micro-areas though, and not universal through the region.

With the Fed keeping rates elevated, tariff deals still not happening, depopulation efforts with new immigration stance, DOGE fears for Govt jobs and spending cuts, and now threats of geopolitical instability (aka wars overseas) pushing energy prices higher, it's going to be an interesting second half of the year.

I think buyers today will be rewarded handsomely at these levels. The key is to WRITE OFFERS and make deals happen rather than waiting for sellers to drop prices.

I still believe in this general outcome:

1. War fears subside faster than we think
2. The big beautiful bill will be so big it will be economically stimulative.
3. DOGE was fake news used to stir up the base. The bite will be a fraction of the bark from earlier this year.
4. Tariff's will just seemingly disappear, get walked back, worked out once the spending bill is passed in Congress.

Then, confidence comes flying back into the housing market and prices rebalance quickly in the soft areas. Time will tell, but watching markets for the past 25 years, this seems like a very logical outcome to me.

Time will tell!

06/18/2025

❓ Why is your mortgage rate higher than what you saw online?

In this video, I explain how mortgage rates are really determined — and why two people can get two completely different rates 📉📈 even with the same lender, on the same day, for the same home.

I’ll walk you through what lenders look at, how risk is priced, and what you can do to make sure you’re getting the best deal possible ✅

▶️ Watch now and message me if you want a second opinion on your quote — no strings attached.